MEMPHIS, Tenn., January 13, 2025 – Memphis-area home sales for December decreased 0.4 percent from a year ago, with 1,108 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 2.7 percent from November, when there were 1,139 total sales. Average sales price from December-to-December was down 5.2 percent, at $249,317. Inventory decreased 10.9 percent, with 3,469 units listed for sale. December average DOM was 50, a 3.8 percent decrease from the previous month. Sales volume YTD increased 0.2 percent, to $4.20 billion.
December Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
1,108 | 1,112 | -0.4% |
Median Sales Price |
$194,393 | $200,500 | -3.0% |
Average Sales Price |
$249,317 | $263,028 | -5.2% |
Monthly Sales Volume |
$276.2 million | $292.5 million | -5.6% |
Year-to-Date Comparison
2024 |
2023 |
Percentage Change |
|
Total Home Sales |
15,669 | 15,657 | +0.1% |
Median Sales Price |
$210,000 | $215,000 | -2.3% |
Average Sales Price |
$268,042 | $267,380 | +0.2% |
Monthly Sales Volume |
$4.20 billion | $4.19 billion | +0.2% |
“The market finished slightly up in total sales and sales volume for the year,” said MAAR President Scott Bettis. “Once again, the Memphis market proved steady.”
Historical home sale statistics are also available for comparison.